Seoul:SK hynix Inc. announced on Wednesday that its revenue and operating profit reached unprecedented levels in the third quarter, attributed to a significant increase in demand for memory chips during the artificial intelligence (AI) boom. The company also revealed plans for a shareholder return program exceeding 100 trillion won (US$75.3 billion) by 2026.
According to Yonhap News Agency, SK hynix's operating profit in the July-September period soared 557.2 percent compared to the previous year, reaching 83.33 trillion won. During the same period, the company's revenue surged by 327.9 percent year-over-year, amounting to 104.61 trillion won, as detailed in the company's regulatory filing.
In other developments, former U.S. Forces Korea (USFK) commanders expressed concerns over the potential weakening of the South Korea-U.S. alliance following the anticipated transfer of wartime operational control (OPCON). During a symposium hosted by the Institute for Corean-American Studies, retired Gen. Walter Sharp highlighted the possible impacts on the South Korea-U.S. Combined Forces Command's effectiveness.
Additionally, South Korean financial firms, including Daishin Securities and crypto exchange Bithumb, reported data breaches affecting customer information. Daishin confirmed that personal data of 38,490 customers was compromised.
Meanwhile, a special counsel team began inspecting election ballots stored at the Seoul handball arena as part of an investigation into ballot shortages during the June 3 local elections. The team, led by Lee Tae-han, is examining 2.47 million ballots and related materials for potential irregularities.
President Lee Jae Myung addressed concerns of "irresponsible extremism" demanding excessive reforms, cautioning that such extremism could hinder effective reforms. His remarks were made in response to social media criticism.
Lastly, the South Korean government announced a plan to mandate companies with 100 or more employees to deposit severance funds with financial institutions by 2028 to ensure payment compliance, with preparations beginning in 2027.